Skip to comments.Alcoa, Hewlett-Packard and Bank of America to Be Dropped from Dow Industrials
Posted on 09/10/2013 6:10:09 AM PDT by markomalley
Alcoa Inc., Hewlett-Packard Co. and Bank of America Corp. will be dropped from the Dow Jones Industrial Average next week, in the biggest shake-up of the 30-stock index in almost a decade.
Alcoa, a Dow component for 54 years, will be replaced by athletic gear maker Nike Inc. Payments company Visa Inc. will replace H-P, which joined the index in 1997, and securities firm Goldman Sachs Group Inc. will supplant Bank of America, which spent five years in the blue-chip benchmark.
The changes, which will take effect with the close of trading on Sept. 20, reflect the companies' sliding fortunes and their declining share prices, S&P Dow Jones Indices LLC, the company that oversees the Dow, said in a statement.
(Excerpt) Read more at online.wsj.com ...
Well, Duh. Take the ‘dogs’ out of the mix and the DOW will SOAR. *Rolleyees*
Just more manipulation. Stability and value of the DOW is supposed to include long term stock.
Wow, Alcoa replaced by a shoe maker - who makes the darned things overseas.
Hewlett-Packard (ruined by a sales wench placed in charge of technology about which she understood nothing)....replaced by some other worthless company that produces nothing of real value. (Don’t come for me, females, I know plenty out there who are brilliant. Carley bimbo just wasn’t one of them.)
I’ve got an idea, let’s just purchase our metals and electronics from China.
Yeah, take out the dogs and we will have a 20000pt down by year end.
I wonder if anyone has done a review of the dow as it was circa 1980 to today. A few of them no long exist in that form.
Like taking tens of millions of people out of the labor force that no longer count as unemployed.
In other news, economy indicators show that Allah Akbar Obama’s economic policies are a spectacular success.
Do you ever get the feeling that the game is rigged against us? ;)
All the time.
This is ludicrous. Changing the Dow is like a street hustler’s Three Card Monty game...............
The ultimate 'Insider Trading' scheme comes to fruition ala Obozo's SEC cronies..................
“Alcoa, a Dow component for 54 years, will be replaced by athletic gear maker Nike Inc.”
Aluminum manufacturing, replaced by tennis shoes loved in the ghetto. That about sums up what the political party has done to our nation. And yes, there is only one “party”.
Goldmann Sachs being added? Go figure. Now every single mutual fund tied to the DOW will be forced to purchase GS stock.
...the Dow is like a street hustlers Three Card Monty game...
Oh, we've done pretty well by it.
Remember back in the late 1800's there was no way to get a feel for stock prices in general until Mr. Jones got together with Mr. Dow and started averaging the prices of a dozen or so major stocks --mostly railroads at the time. It was just a simple average of a few stocks so in the 1940's Mr. Poor got Mr. Standard to help him work out a weighted index of 500 stocks. It really didn't make much difference:
Where (or is) Agilent listed??? They are the TRUE heirs of the “HP way”. All “HP” got was the name.
I recall reading such an analysis that said the original dow stock average would be down. Many have gone out of business over the years. Or reborn with the same name but different owners (railroads, car companies, steel companies, etc.)
Chicago & North Western
D. L. & W.
New York Central
Northern Pacific pfd.
Louisville & Nashville
Pacific Mail (steamship)
Western Union (communications)
HP was ruined before Carly, she just made it worse.
Allied Chemical General Foods Owens-Illinois Glass
Aluminum Company of America General Motors Corporation Procter & Gamble Company
American Can Goodyear Sears Roebuck & Company
American Telephone and Telegraph Company Inco Standard Oil of California
American Tobacco B International Business Machines * Texaco Incorporated
Bethlehem Steel International Harvester Union Carbide
E. I. du Pont de Nemours and Company International Paper Company United Technologies Corporation
Eastman Kodak Company Johns-Manville U.S. Steel
Exxon Corporation Merck & Co., Inc. * Westinghouse Electric
General Electric Company Minnesota Mining & Manufacturing Woolworth
So, more than half are gone, some by merger, most by BK or size reductions. WOW.
Just more of BO and his thug apparatchiks strong-arming the ‘independents’ out there from accurately reporting on his disastrous mismanagement of the economy.
They probably threatened them with either endless regulatory investigations or more busloads of ACORN enforcers to picket their homes ...like the GM bond holders that counted on the rule of law to prevail.